Bank Lends Support to High-tech Future

Chinese bankers, scientists and entrepreneurs should join hands to accelerate the development of the high-technology industry to bolster the national economy, a high ranking official said.

"We want to support the country's high-tech industry," said Dai Xianglong, head of the central People's Bank of China.

He said the country's financial sector will back the high-tech industry in coming years.

Dai made the remarks at a meeting of bankers, scientists and enterpreneurs at the Zhongguancun Science Park last week in Beijing.

Organized by the Beijing municipal government, about 300 representatives from the country's banking sector, colleges and scientific institutions, and high-tech enterprises participated in the event.

"Speeding up the development of the country's high-tech development zones has proved to be one of the most effective ways to develop high-tech," Dai said.

According to Dai, Zhongguancun Science Park has been courting investors and companies by expanding loans to scientific institutions and private high-tech enterprises, adding more long- or medium-term loans, adjusting the financial policies and encouraging more investment organizations to come to the area.

The country's financial sector will establish a financial services co-ordination panel to work out special measures to support the high-tech industry financially in the Zhongguancun Science Zone.

Zhu Lilan, minister of Science and Technology, said she was pleased to see bankers, scientists and entrepreneurs co-operating to develop the high-tech industry.

"Mutual support is needed. I believe such co-operation will contribute substantially to the industry and national economy," she said.

Lu Yongxiang, head of the Chinese Academy of Sciences, said science and technological innovation will be promoted by the collaboration.

During the meeting, Beijing Mayor Liu Qi stressed that to beef up the Zhongguancun Science Zone, the government is drafting related regulations to encourage the zone's healthy development.

He said the regulations will be made public in the first half of this year.

He also encouraged the use of venture capital in the development of the zone.

(Source: CIEC)

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